Laird Norton Wetherby Wealth Management LLC Has $3.01 Million Stock Holdings in The Cigna Group (NYSE:CI)

Laird Norton Wetherby Wealth Management LLC reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,901 shares of the health services provider's stock after selling 1,178 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in The Cigna Group were worth $3,010,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at about $25,000. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter valued at $32,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group during the 4th quarter valued at $37,000. Transce3nd LLC acquired a new stake in The Cigna Group during the 4th quarter worth about $38,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group during the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Up 3.8%

Shares of The Cigna Group stock traded up $11.82 during midday trading on Friday, reaching $320.68. 2,055,906 shares of the company's stock traded hands, compared to its average volume of 1,717,210. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company's 50 day simple moving average is $324.94 and its 200 day simple moving average is $309.85. The company has a market cap of $85.67 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the business posted $6.47 earnings per share. The business's quarterly revenue was up 14.4% on a year-over-year basis. Equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.88%. The Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Insiders Place Their Bets

In other news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on CI shares. Raymond James reissued a "strong-buy" rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Oppenheimer reduced their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Finally, Morgan Stanley upped their price target on The Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group has an average rating of "Buy" and a consensus price target of $379.33.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.